TN Form 944 2024-2025

TN Form 944: What You Should Know

In this page: Employers should be aware that for 2018-19, an additional 3.4% tax will be imposed on any business with gross annual sales of less than 100,000. Additionally, anyone who is a proprietor or sole proprietor of a business or is a member of a partnership and has a gross income of over 250,000 will also have to pay a 2.9% state tax on that income. These taxes will be collected from individuals and businesses, and will include a 0.9% federal income tax (with some exceptions) on all income paid to an individual or corporation. The income tax rates are: 1.6% (10% for each of the two prior years); 4.2% (9.6% for each of the two prior years); 8% (6.2% for each of the two prior years); and a 10% bracket, capped at 20% of the taxable incomes. (These rates are in addition to any state taxes imposed.) Note: The state unemployment tax does increase by 0.2% for each month of the 2018-19 tax year. The state is not liable to pay any unemployment taxes that you owe the state. You can find the amount you owe and when you owe it in the unemployment tax schedule (TIM-TN-18-082). As a point of reference the current unemployment rates are: June 2025 rates: Tennessee: 6.5% (July 2018); October 2025 rates: Tennessee: 4.4% (7th week of September 2018); & November 2025 rates: Tenn the: 4.2% (8th week of September 2018) How to File a Statement of Tax Liability What is a Statement of Tax Liability?  The Statement of Tax Liability (Form 706) is an annual information return required of Tennessee employers by the Tennessee Division of Taxation (DOT). It must be filed annually on April 1st.  The Statement of Tax Liability is an annual filing requirement for all Tennessee employers with gross annual sales of 25,000 or more.  Forms 706 have the following general requirements: Form 706-B: Statement of Information for Tax Year The form must be filed by April 1st in the calendar year following the calendar year you commenced operations.  The Form 706-B is to be filed by fax at.

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